Bernstein SocGen Group raised its price target on Okta Inc. to $143 from $140 on Thursday, citing stronger-than-expected bookings and accelerating enterprise momentum in the company’s fiscal 2027 second quarter.
The upgrade follows a 9-basis-point sequential increase in subscription growth and a nearly 2-percentage-point rise in current remaining performance obligations (cRPO) to 14.1% year-over-year growth. Bernstein maintained an Outperform rating on the stock, which was trading at $165.27 at the time of the report, up 85% over the past six months and above its 52-week high of $157.
Okta reported its strongest non-fourth-quarter bookings on record, with large deals signed across enterprise and federal government segments. The company also raised its fiscal 2027 guidance by more than twice the amount of its second-quarter beat, reflecting growing management confidence in sustained demand.
Bernstein analyst Peter Weed noted that the quarter "finally showed what we’ve been long waiting for," highlighting the uptick in subscription growth and the sharp acceleration in cRPO. The firm joins a group of bullish peers: KeyBanc, Piper Sandler, RBC Capital, DA Davidson, and Citi all maintain price targets above Okta’s current share price, ranging from $160 to $195.
InvestingPro data shows Okta’s gross profit margin at 77%, while KeyBanc noted that cRPO exceeded expectations by $76 million, underscoring the strength in the company’s recurring revenue pipeline.
